Green Car Congress

OCTOBER 20, 2015

Subsequently, to defend market share, the Saudis increased production, which exacerbated market oversupply and further pressured prices. Venezuela, an OPEC member, has even proposed an emergency summit meeting. This decision set crude prices on a downward path. and EU Ukraine-related economic and financial sanctions.

Russia 150

Russia Saudi Arabia Oil Market 150

Green Car Congress

OCTOBER 6, 2015

The Saudi decision to let the market set prices and to pursue market share, has led to steep declines in crude and petroleum product prices. They include bans on financing for and the supply of critical equipment and technology to important Russian energy projects. Wary of U.S.

Russia 150

Russia Saudi Arabia Iran Iraq 150

Green Car Congress

AUGUST 25, 2015

While the IEA projects surplus production will begin to recede in 2H 2016, they are suffering now (and in any case, it is a projection). As we have pointed out, RBC Capital’s fragile five , Algeria, Libya, Nigeria, Iraq and Venezuela, the pain is intense. Moreover, any comfort the OPEC outsiders gain at best may be cold comfort.

Saudi Arabia 150

Saudi Arabia Russia Oil 2015 150